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Energy Vault to Establish a Center of Excellence for Advanced Energy Storage Technologies with the Appointment of Dr. Craig Horne as Vice President, Advanced Energy Storage Development

Dr. Horne possesses more than 30 years of domestic and international experience managing the development and commercialization of advanced energy storage systems

Dr. Horne to accelerate Energy Vault’s development of complementary energy storage solutions to Energy Vault’s existing technologies portfolio

LUGANO, Switzerland & WESTLAKE VILLAGE, Calif.–(BUSINESS WIRE)–
Energy Vault Holdings, Inc. (NYSE: NRGV) (“Energy Vault”), a leader in sustainable, grid-scale energy storage solutions, today announced the appointment of Craig Horne, Ph.D., as Vice President, Advanced Energy Storage Development. Dr. Horne will be based in Energy Vault’s U.S. headquarters in Westlake Village, Calif.

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Dr. Craig Horne (Photo: Business Wire)

Dr. Horne began working with energy storage technologies more than 30 years ago and joins Energy Vault with deep domestic and international experience. Over multiple decades, Dr. Horne managed the development and commercialization of advanced energy storage systems, as well as materials, processes, and diagnostic methods for energy, electronics, and telecom applications.

In response to a fast-moving market requesting more sophisticated storage solutions, Dr. Horne will be responsible for the expansion of Energy Vault’s portfolio of energy storage solutions that complement the company’s current offerings, supporting early-stage research at the company, and supporting commercial activities involving the current solution offerings.

“We are privileged to have Craig join as a leader of Energy Vault. Craig brings extensive experience to Energy Vault with a proven track record in leadership roles across a unique set of storage industry segments, including technology and product development, project integration and project execution,” said Marco Terruzzin, Chief Commercial and Product Officer, Energy Vault. “Dr. Horne will be responsible for driving new technologies and solutions to market that address customer demand for a wide range of storage requirements, while further enhancing our current portfolio.”

Dr. Horne’s appointment further demonstrates Energy Vault’s successful rapid execution of the Energy Vault Solutions (EVS) technology-neutral integration and software strategy, introduced in Q4 2021, to provide customers with the most flexible and cost-effective energy storage solutions regardless of the underlying storage and generation technology. EVS leverages the most advanced software architecture, cyber security protocols, and optimization algorithms to enable the secure integration and orchestration of multiple energy assets under a multitude of use cases.

As recently announced, Energy Vault through its EVS offering, signed three EPC contracts for a total of 495 MWh with Jupiter Power and Wellhead Electric. This includes a 100 MW (200 MWh) battery energy storage system in Fort Stockton, Texas to provide Fast Frequency Response and energy support to the ERCOT market, a 10 MW (20 MWh) system in Carpinteria, California for Resource Adequacy in the CAISO market as well as energy resiliency in a disaster-prone, transmission-vulnerable stretch of the Southern California coastline, and a 68.8 MW (275.2 MWh), in Stanton, California, to meet critical power needs for southern California.

“I am delighted to join the Energy Vault team and am especially excited to capitalize on my thirty years working with battery technologies, the last seven of which have been spent in the system integration, EPC, and owner/IPP sectors of the industry to bring additional breakthrough storage solutions to the market,” said Dr. Craig Horne, Vice President, Advanced Energy Storage Development, Energy Vault. “It recently became clear to me just how drastic the limitations are related to how far incumbent lithium-ion based solutions can go in satisfying the accelerating demand for energy storage. With the shift to intermittent renewable energy assets, the power sector needs a diverse set of economically competitive energy storage technologies for long-duration applications. In addition, the competition for Li-ion batteries from the transportation sector has increased prices and squeezed supply. These market forces have created an unprecedented opportunity to accelerate the development of alternative energy storage technologies for stationary energy applications. I believe Energy Vault’s strategy to create multiple solutions that satisfy the wide range of requirements across the spectrum of storage projects is best positioned to capitalize on this opportunity and enable a renewable world.”

Immediately prior to joining Energy Vault, Dr. Horne served as Managing Director of Energy Storage at Wellhead Electric Corporation, a leading developer and operator of innovative energy generation and energy storage facilities. Prior to his role at Wellhead Electric Corporation, Dr. Horne held senior leadership energy storage roles with Swinerton Renewable Energy, RES Group and EnerVault, which he co-founded and served as Chairman, CEO and Chief Strategy Officer. Dr. Horne also served six years on the Board of the Energy Storage Association (now American Clean Power), including Chairman from 2018-2019, and two years on the Board of the California Energy Storage Alliance. Fifteen of his 22 awarded U.S. patents are in the fields of batteries, fuel cells, and grid storage.

Dr. Horne holds a Ph.D. in Materials Science & Mineral Engineering from University of California, Berkeley, an M.S. in Materials Science & Engineering from University of California, Los Angeles, and a B.S. with high honors in Materials Science & Engineering from University of Florida, Gainesville.

About Energy Vault

Energy Vault develops and deploys sustainable energy storage solutions designed to transform the world’s approach to utility-scale energy storage in realizing decarbonization while maintaining grid resiliency. The company’s proprietary gravity-based energy storage technology, battery storage technology, and energy storage management and integration platform are intended to help utilities, independent power producers and large industrial energy users significantly reduce their levelized cost of energy while maintaining power reliability. Utilizing eco-friendly materials with the ability to integrate waste materials for beneficial re-use, Energy Vault is facilitating the shift to a circular economy while accelerating the clean energy transition for its customers. For additional information, please visit: www.energyvault.com.

Forward-Looking Statements

This press release contains forward-looking statements that involve risks, uncertainties, and assumptions including statements regarding Energy Vault’s future expansion, deployments and capabilities. There are a significant number of factors that could cause actual results to differ materially from the statements made in this press release, including: risks related to the deployment of Energy Vault’s energy management software the projects announced in this press release, risks related to Energy Vault’s ability to supply equipment, engineering, procurement, construction and balance of plant services for the projects announced in this press release, the fact that the project is the first such deployment for Energy Vault and as a result, there could be unforeseen issues with the system, the ability to meet milestones in order to receive payments, unforeseen delays in the projects announced in this press release, whether these projects will be constructed on time or whether they will operate as planned, developments and changes in the general market, the continuing impact of COVID-19, political, economic, and business conditions, and the impact of competing technologies on demand for battery powered projects. Additional risks and uncertainties that could affect our financial results are included under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Quarterly Report on Form 10-Q for the quarter ended June 30, 2022, filed with the SEC on August 8, 2022, which is available on our website at investors.energyvault.com and on the SEC’s website at www.sec.gov. Additional information will also be set forth in other filings that we make with the SEC from time to time. All forward-looking statements in this press release are based on information available to us as of the date hereof, and we do not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made, except as required by applicable law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220913005520/en/

Energy Vault

Investors

[email protected]

Media

[email protected]

KEYWORDS: California Europe Switzerland United States North America

INDUSTRY KEYWORDS: Environment Technology Other Energy Utilities Other Technology Software Sustainability Alternative Energy Energy Hardware

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Dr. Craig Horne (Photo: Business Wire)

New Penguin Edge IFC6720 Platform Enables Innovation for Video Content Distribution

Powered by Qualcomm^® SDA845 SoC for on-device AI, HPC, enhanced security, and connectivity

TEMPE, Ariz.–(BUSINESS WIRE)–Penguin Solutions^™, an SGH^™ brand (Nasdaq: SGH) that provides HPC, AI, and IoT technologies for edge, core, and cloud, today announced the Penguin Edge^™ IFC6720 application-ready platform designed to drive networked video content distribution in edge applications. Based on the Qualcomm^{SDA845 system-on-chip (SoC), the Penguin Edge IFC6720 platform is a turnkey box solution for dual simultaneous 4K displays with concurrent HDMI input and wireless content-sharing in an optimized, reliable and secure digital environment. This production-ready fanless platform enables AI-powered edge AV applications such as digital signage, including virtual and augmented reality innovations, video conferencing systems, and collaboration platforms in areas such as enterprise and education.}

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220913005514/en/

The Penguin Edge IFC6720 application-ready platform from Penguin Solutions enables AI-powered AV applications for digital signage, including virtual and augmented reality innovations, video conferencing systems, and collaboration platforms in enterprise and education. (Photo: Business Wire)

George Clopp, chief technology officer at Korbyt, a user of the Penguin Edge IFC6720 platform, said: “Korbyt provides a complete platform for corporate workforce and retail digital signage. The Penguin Edge IFC6720 delivers the video processing capacity to drive our Virgo digital signage player as well as the compute power for our content management system. The Penguin Edge team was very responsive and supportive when we were designing with the Penguin Edge IFC6720 platform, which has turned out to be an ideal turnkey hardware solution for our Korbyt Anywhere digital signage solution.”

The Qualcomm SDA845 SoC is supported by 4GB LP DDR4x and 64GB UFS memory, and the Penguin Edge IFC6720 platform features an M.2-2280 SSD slot and μSD card slot, together providing abundant memory with the flexibility to scale. High bandwidth connectivity includes 802.11n/ac MU-MIMO Wi-Fi and Bluetooth 5.x for connected applications. The platform uses the Qualcomm^® Hexagon^™ 685 DSP and Qualcomm^® AI Engine to efficiently run heterogeneous deep learning workloads and neural networks for high-performance, on-device AI inferencing. The Penguin Edge IFC6720 platform includes an Android^™ 10 board support package.

Todd Wynia, vice president, Penguin Edge product management, said: “Capturing, streaming, casting and controlling UHD video content just became a lot easier for a wide range of edge AV applications, from digital signage to professional collaboration and conferencing. Penguin Edge solutions such as the Penguin Edge IFC6720 application-ready platform make it easier to develop and deploy services that can change the way we work, shop, learn and much more.”

The Penguin Edge IFC6720 platform is available to order here, priced at $499 for the platform and $449 for the standalone board with power supply.

About Penguin Solutions

The Penguin Solutions^™ portfolio, which includes Penguin Computing^™ and Penguin Edge^™, accelerates customers’ digital transformation with the power of emerging technologies in HPC, AI, and IoT with solutions and services that span the continuum of edge, core, and cloud. By designing highly-advanced infrastructure, machines, and networked systems we enable the world’s most innovative enterprises and government institutions to build the autonomous future, drive discovery and amplify human potential.

Penguin Solutions is an SGH Brand.

Penguin Solutions, Penguin Computing, Penguin Edge are trademarks or registered trademarks of SMART Global Holdings, Inc. Qualcomm and Hexagon are trademarks or registered trademarks of Qualcomm Incorporated. Qualcomm SDA845 SoC, Qualcomm Hexagon, and Qualcomm AI Engine are products of Qualcomm Technologies, Inc. and/or its subsidiaries. Android is a trademark of Google LLC. All other trademarks and registered trademarks are the property of their respective owners.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220913005514/en/

Maureen O’Leary

Communications, Penguin Solutions

+1 (602) 330-6846

[email protected]

Shreek Raivadera

Sandstar Communications for Penguin Edge

+44 (0) 77 86 26 32 21

[email protected]

KEYWORDS: Arizona United States North America

INDUSTRY KEYWORDS: IOT (Internet of Things) Technology Audio/Video Software Networks Artificial Intelligence Internet

MEDIA:

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The Penguin Edge IFC6720 application-ready platform from Penguin Solutions enables AI-powered AV applications for digital signage, including virtual and augmented reality innovations, video conferencing systems, and collaboration platforms in enterprise and education. (Photo: Business Wire)

Colony Bankcorp Announces Organizational Changes

FITZGERALD, Ga.–(BUSINESS WIRE)–
Colony Bankcorp, Inc. (Nasdaq: CBAN) (“Colony” or the “Company”), the bank holding company for Colony Bank (the “Bank”), today announced senior management organizational changes designed to position the Company for long-term success on its mission to build a sustainable, high-performing independent bank.

M. Eddie Hoyle, Executive Vice President and Chief Banking Officer, has informed the Company that he intends to retire on December 31, 2022, following 11 years of service to Colony and 44 years in the banking industry. In connection with this, the Company will separate T. Heath Fountain’s roles as President and Chief Executive Officer, and combine Hoyle’s responsibilities under the position of President. R. Dallis “D” Copeland, Jr., who currently serves as Special Advisor to the Company, has been named President of the Company and the Bank. Fountain will remain Chief Executive Officer, primarily focusing on the execution of the Bank’s strategic plan and acting as the primary liaison between management and the Board of Directors.

Commenting on the announcement, T. Heath Fountain, Chief Executive Officer, said, “We are grateful for Eddie’s leadership and commitment to Colony. Eddie has been instrumental through much of our growth phase, overseeing customer relationship development and strengthening market leadership. His significant contributions and distinguished banking career will leave a lasting impact on our team.”

With 30 years of banking and executive leadership experience, Copeland will be responsible for all areas that deliver products and services to customers and will also be accountable for achieving production and customer experience goals. Prior to joining Colony, Copeland was the Executive Vice President and Chief Community Banking Officer at Synovus Financial Corporation, where he oversaw all banking services including Corporate, Commercial Real Estate, Retail, Private Wealth, Treasury Management, Credit Card, Marketing and Special Assets.

Additionally, it was announced that Kimberly C. Dockery, currently Executive Vice President and Chief Administrative Officer, will transition into the newly created role of Chief of Staff. Dockery will utilize her wealth of banking and operational knowledge to prioritize strategic initiatives and ensure clear communication across the Company. She will also represent the Chief Executive Officer and the executive team in senior leadership meetings and will act as the Chief Executive Officer’s proxy, making timely decisions in conjunction with other executives. Dockery will also continue to oversee human resources, technology and innovation.

“As Colony continues to grow, our organizational structure has to evolve as well. These management changes position our team with the right structure to drive our business forward, successfully execute our initiatives, and to deliver greater value to our shareholders, customers, and team,” said Fountain. “Kimberly and D have both been key players for much of our growth and expansion. Their leadership, insight, and passion for serving our customers will continue to be a strong asset. I look forward to continuing to work with them and our talented team, as we pursue our vision for Colony.”

About Colony Bankcorp

Colony Bankcorp, Inc. is the bank holding company for Colony Bank. Founded in 1975 and headquartered in Fitzgerald, Georgia, Colony operates 39 locations throughout Georgia. At Colony Bank, we offer a wide range of banking services including personal banking, business banking, mortgage solutions, government guaranteed lending solutions, and more. We have expanded our services to also include consumer insurance products, such as automotive, homeowners, and other insurance needs for our community. Colony’s common stock is traded on the NASDAQ Global Market under the symbol “CBAN.” For more information, please visit colony.bank. You can also follow the Company on social media.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220913005564/en/

T. Heath Fountain

Chief Executive Officer

(229) 426-6000 (Ext 6012)

KEYWORDS: Georgia United States North America

INDUSTRY KEYWORDS: Banking Professional Services Finance

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SatixFy Poised to Enable Direct-to-Cell 5G Non-Terrestrial Networks

• On June 28, 2022, SatixFy, supported by the UK Space Agency (“UKSA”) and the European Space Agency (“ESA”), using the OneWeb constellation, successfully demonstrated a high-speed low-latency 5G-enabled link with a LEO satellite via its fully electronically steered multi-beam multi-orbit antenna terminal
• SpaceX / T-Mobile, Thales / Ericsson /Qualcomm, and Huawei are among key companies announcing direct-to-cell satellite enabled 5G services in recent weeks
• We believe SatixFy’s proprietary chip technology is well-suited to adaptation to the expected requirements of 5G telecommunications satellites

REHOVOT, Israel–(BUSINESS WIRE)–
SatixFy Communications Ltd. (“SatixFy”), a leader in next-generation satellite communication systems based on in-house developed chipsets, ahead of the 73^rd International Astronautical Congress 2022, is highlighting the potential for its technology to play a key role in the development of direct-to-cell satellite 5G services. This is a rapidly emerging area of satellite communications in which SatixFy believes it can play an important role in moving the technology forward in the coming years.

Last month SpaceX announced a partnership with T-Mobile to provide basic text service across parts of the U.S. where terrestrial service is not available. In July, Thales, Ericsson and Qualcomm announced a partnership to develop 5G non-terrestrial networks using low-Earth orbit (“LEO”) satellites. In addition, last week Huawei announced its first handset with satellite capability, the Mate 50 series, which can send text messages using satellites. While these offerings provide basic direct-to-cell satellite service for text messaging services, full-scale voice and data services desired by consumers that are expected to follow will require the use of advanced chip technologies to address current limitations.

Specific challenges in delivering the higher levels of service include 1) the requirement of large antennas in space with high directivity to both capture the small signal emitted by a cell phone and provide a sizeable coverage area, 2) the need for a large number of pointing beams for antennas to service many devices, and 3) the requirement of large constellations of LEO satellites to provide global coverage to cellular users. For example, new LEO constellations, like the SpaceX Gen 2 Starlink satellites, utilize large antennas and will require a large number of satellites to provide global coverage.

SatixFy’s technologies can change the game from both a performance and cost perspective. SatixFy’s2^nd generation Digital Beamforming ASIC Prime 2.0 utilizes “True Time Delay” technology and has a modular and scalable architecture that enables building large antenna arrays in different frequency bands spanning from L-band to Ka-band. Additionally, the Prime2 ASIC supports a large capacity (up to 8GHz, which can be further aggregated to expand to 64GHz) with up to 128 dual polarized beams all of which allow a large number of devices to be serviced by a single antenna. The beams can be configured dynamically in a very short time to support beam hopping that further optimizes the utilization of satellite resources to support a large number of devices on the ground. Prime 2.0 will deliver all these features at a very low DC power.

These technologies are not theoretical. On June 28, 2022, SatixFy played a key role in demonstrating a high-speed, low-latency link with a LEO satellite constellation incorporating 5G. The demonstration at the ESA/ECSAT facilities in Harwell, UK, using a compact electronic antenna powered by SatixFy to connect to a LEO satellite constellation operated by OneWeb, achieved the world’s first ever 5G backhaul communications connected to a LEO satellite constellation. That demonstration showcased the validity of the integration of space and ground networks using 5G links, and direct-to-cell is one of the applications that could utilize this technology in the future.

“SatixFy’s space-grade Prime 2.0 will enable low power-usage and cost-effective wideband large Electronically Steered antennas with high aperture efficiency for space applications such as direct-to-cell to deliver broadband directly to handheld cellular devices,” said SatixFy CEO David Ripstein. “We expect to play a key role in enabling the 5G satellite technologies of the future and expect this will become another strong market segment for SatixFy over time.”

On March 8, 2022, SatixFy announced that it had entered into a definitive business combination agreement with Endurance Acquisition Corp. (NASDAQ: EDNC), a publicly-traded special purpose acquisition company (SPAC) formed by an affiliate of Antarctica Capital, an international private equity firm. Upon closing of the transaction, SatixFy’s shares are expected to trade on the New York Stock Exchange under the ticker symbol “SATX.”

About SatixFy

SatixFy develops end-to-end next-generation satellite communications systems, including satellite payloads, user terminals and modems, based on powerful chipsets that it develops in house.

SatixFy’s products include modems that feature Software Defined Radio (SDR) and Fully Electronically Steered Multi Beam Antennas (ESMA) that support the advanced communications standard DVB-S2X. SatixFy’s innovative ASICs improve the overall performance of satellite communications systems, reduce the weight and power requirements of terminals and payloads, and save real estate for gateway equipment. SatixFy’s advanced VSATs and multi-beam fully electronically steered antenna arrays are optimized for a variety of mobile applications and services, using LEO, MEO and GEO satellite communications systems, for aero/in-flight connectivity systems, communications-on-the-move applications, satellite-enabled Internet-of-Things, and consumer user terminals.

SatixFy is headquartered in Rehovot, Israel with additional offices in the US, UK and Bulgaria. For more information, please refer to www.SatixFy.com.

About Endurance Acquisition Corp.

Endurance Acquisition Corp. (“Endurance”) is a special purpose acquisition company formed by an affiliate of Antarctica Capital, an international private equity firm, for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Endurance was founded on April 23, 2021 and is headquartered in New York, NY.

Important Information About the Proposed Transaction and Where to Find It

The proposed business combination will be submitted to shareholders of Endurance for their consideration. SatixFy has filed a registration statement on Form F-4 (the “Registration Statement”) with the SEC which includes a preliminary and definitive proxy statements to be distributed to Endurance’s shareholders in connection with Endurance’s solicitation for proxies for the vote by Endurance’s shareholders in connection with the proposed business combination and other matters as described in the Registration Statement, as well as the prospectus relating to the offer of the securities to be issued to SatixFy’s and Endurance’s shareholders in connection with the completion of the proposed business combination. After the Registration Statement has been filed and declared effective, Endurance will mail a definitive proxy statement and other relevant documents to its shareholders as of the record date established for voting on the proposed business combination. Endurance’s shareholders and other interested persons are advised to read, once available, the preliminary proxy statement/prospectus and any amendments thereto and, once available, the definitive proxy statement/prospectus, in connection with Endurance’s solicitation of proxies for its extraordinary general meeting of shareholders to be held to approve, among other things, the proposed business combination, because these documents will contain important information about Endurance, SatixFy and the proposed business combination. Shareholders may also obtain a copy of the preliminary or definitive proxy statement, once available, as well as other documents filed with the SEC regarding the proposed business combination and other documents filed with the SEC by Endurance, without charge, at the SEC’s website located at www.sec.gov or by directing a request to Endurance Acquisition Corp., 630 Fifth Avenue, 20th Floor, New York, NY 10111.

INVESTMENT IN ANY SECURITIES DESCRIBED HEREIN HAS NOT BEEN APPROVED OR DISAPPROVED BY THE SEC OR ANY OTHER REGULATORY AUTHORITY NOR HAS ANY AUTHORITY PASSED UPON OR ENDORSED THE MERITS OF THE PROPOSED TRANSACTION PURSUANT TO WHICH ANY SECURITIES ARE TO BE OFFERED OR THE ACCURACY OR ADEQUACY OF THE INFORMATION CONTAINED HEREIN. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of SatixFy’s and Endurance’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of SatixFy and Endurance. These forward-looking statements are subject to a number of risks and uncertainties, including the risk that SatixFy and its current and future collaborators are unable to successfully develop and commercialize SatixFy’s products or technologies, including the compact electronically steered multi-beam array designed for mobility services, or experience significant delays in doing so; the ability for SatixFy or its collaborators to obtain the necessary approvals and certifications for SatixFy’s products and technologies; the ability for SatixFy or its collaborators to achieve milestones under the ESA Sunrise Partnership Project; potential design flaws or performance issues in SatixFy’s products and technologies that may not be discovered or discoverable during product trials and demonstrations; the occurrence of any event, change or other circumstances that could give rise to the termination of the proposed business combination; the outcome of any legal proceedings that may be instituted against SatixFy or Endurance, the combined company or others following the announcement of the proposed business combination; the inability to complete the proposed business combination due to the failure to obtain approval of the shareholders of SatixFy or Endurance or to satisfy other conditions to closing; changes to the proposed structure of the proposed business combination that may be required or appropriate as a result of applicable laws or regulations or as a condition to obtaining regulatory approval of the proposed business combination; the ability to meet stock exchange listing standards following the consummation of the proposed business combination; the risk that the proposed business combination disrupts current plans and operations of SatixFy as a result of the announcement and consummation of the proposed business combination; the ability to recognize the anticipated benefits of the proposed business combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and retain its management and key employees and the execution of the CEO transition plan; costs related to the proposed business combination; changes in applicable laws or regulations; SatixFy’s estimates of expenses and profitability and underlying assumptions with respect to shareholder redemptions and purchase price and other adjustments; any downturn or volatility in economic conditions; the effects of COVID-19 or other epidemics; changes in the competitive environment affecting SatixFy or its customers, including SatixFy’s inability to introduce new products or technologies; the impact of pricing pressure and erosion; supply chain risks; risks to SatixFy’s ability to protect its intellectual property and avoid infringement by others, or claims of infringement against SatixFy; the possibility that SatixFy or Endurance may be adversely affected by other economic, business and/or competitive factors; SatixFy’s estimates of its financial performance; risks related to the fact that SatixFy is incorporated in Israel and governed by Israeli law; and those factors discussed in Endurance’s final prospectus dated September 14, 2021 and Annual Report on Form 10-K for the fiscal year ended December 31, 2021, in each case, under the heading “Risk Factors,” and other documents of Endurance filed, or to be filed, with the SEC. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that neither SatixFy nor Endurance presently know or that SatixFy and Endurance currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect SatixFy’s and Endurance’s expectations, plans or forecasts of future events and views as of the date of this press release. SatixFy and Endurance anticipate that subsequent events and developments will cause SatixFy’s and Endurance’s assessments to change. However, while SatixFy and Endurance may elect to update these forward-looking statements at some point in the future, SatixFy and Endurance specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing SatixFy’s and Endurance’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.

No Offer or Solicitation

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

Participants in Solicitation

Endurance, SatixFy and certain of their respective directors, executive officers and other members of management and employees may, under SEC rules, be deemed to be participants in the solicitations of proxies from Endurance’s shareholders in connection with the proposed business combination. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of Endurance’s shareholders in connection with the proposed business combination will be set forth in Endurance’s proxy statement / prospectus when it is filed with the SEC. You can find more information about Endurance’s directors and executive officers in Endurance’s final prospectus dated September 14, 2021 and Annual Report on Form 10-K for the fiscal year ended December 31, 2021. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests will be included in the proxy statement / prospectus when it becomes available. Shareholders, potential investors and other interested persons should read the proxy statement / prospectus carefully when it becomes available before making any voting or investment decisions. You may obtain free copies of these documents from the sources indicated above.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220913005543/en/

Investor:

Kevin Hunt, ICR, [email protected]

Media:

Helena Itzhak, Satixfy, [email protected]

Brian Ruby, ICR, [email protected]

KEYWORDS: Israel Middle East

INDUSTRY KEYWORDS: 5G Satellite Technology Telecommunications Software

MEDIA:

Posted on September 13, 2022 8:19 am

Western Asset Global Corporate Defined Opportunity Fund Inc. Announces Financial Position as of July 31, 2022

Western Asset Global Corporate Defined Opportunity Fund Inc. Announces Financial Position as of July 31, 2022

NEW YORK–(BUSINESS WIRE)–
Western Asset Global Corporate Defined Opportunity Fund Inc. (NYSE: GDO) today announced the financial position of the Fund as of July 31, 2022.

	Current Q		Previous Q		Prior Yr Q
	July 31, 2022		April 30, 2022		July 31, 2021
Total Assets (a)	$ 331,045,645		$ 339,264,568		$ 397,777,392
Total Net Assets (a)	$ 212,829,015		$ 219,483,195		$ 278,253,052
NAV Per Share of Common Stock (b)	$ 14.24		$ 14.69		$ 18.63
Market Price Per Share	$ 14.29		$ 14.20		$ 18.67
Premium / (Discount)	0.35%		(3.34)%		0.21%
Outstanding Shares	14,946,354		14,943,374		14,938,426
Total Net Investment Income (c)	$ 3,941,237		$ 3,805,400		$ 3,953,798
Total Net Realized/Unrealized Gain/(Loss) (c)	$ (6,107,623)		$ (34,461,945)		$ 2,098,545
Net Increase (Decrease) in Net Assets From Operations (c)	$ (2,166,386)		$ (30,656,545)		$ 6,052,343
Earnings per Common Share Outstanding
Total Net Investment Income (c)	$ 0.26		$ 0.25		$ 0.26
Total Net Realized/Unrealized Gain/(Loss) (c)	$ (0.41)		$ (2.31)		$ 0.14
Net Increase (Decrease) in Net Assets From Operations (c)	$ (0.15)		$ (2.06)		$ 0.40
Undistributed/(Overdistributed) Net Investment Income (d)	$ (3,402,359)		$ (2,815,453)		$ (3,102,601)
Undistributed/(Overdistributed) Net Investment Income
Per Share (d)	$ (0.23)		$ (0.19)		$ (0.21)
Loan Outstanding (d)	$ 83,000,000		$ 90,000,000		$ 90,000,000
Reverse Repurchase Agreements (d)	$ 33,238,012		$ 22,322,888		$ 20,532,375

Footnotes:

(a) The difference between total assets and total net assets is due primarily to the Fund’s use of borrowings; total net assets do not include borrowings.

(b) NAVs are calculated as of the close of business on the last business day in the periods indicated above.

(c) For the quarter indicated.

(d) As of the date indicated above.

This financial data is unaudited.

The Fund files its semi-annual and annual reports with the Securities and Exchange Commission (“SEC”), as well as its complete schedule of portfolio holdings for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. These reports are available on the SEC’s website at www.sec.gov. To obtain information on Forms N-PORT or a semi-annual or annual report from the Fund, shareholders can call 1-888-777-0102.

Western Asset Global Corporate Defined Opportunity Fund Inc. is a non-diversified, limited-term, closed-end management investment company that is managed by Legg Mason Partners Fund Advisor, LLC, a wholly-owned subsidiary of Franklin Resources. It is sub-advised by Western Asset Management Company (“WAMCo”) and certain of WAMCo’s foreign-based affiliates; WAMCo and its affiliates are also affiliates of the investment manager.

For more information about the Fund, please call 1-888-777-0102 or consult the Fund’s web site at www.franklintempleton.com/investments/options/closed-end-funds. Hard copies of the Fund’s complete audited financial statements are available free of charge upon request.

Data and commentary provided in this press release are for informational purposes only. Franklin Resources and its affiliates do not engage in selling shares of the Fund.

Category: Financials

Source: Franklin Resources, Inc.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220913005664/en/

Media Contact: Fund Investor Services 1-888-777-0102

KEYWORDS: New York United States North America

INDUSTRY KEYWORDS: Professional Services Finance

MEDIA:

Posted on September 13, 2022 8:19 am

Western Asset Municipal High Income Fund Inc. Announces Financial Position as of July 31, 2022

Western Asset Municipal High Income Fund Inc. Announces Financial Position as of July 31, 2022

NEW YORK–(BUSINESS WIRE)–
Western Asset Municipal High Income Fund Inc. (NYSE: MHF) today announced the financial position of the Fund as of July 31, 2022.

	Current Q				Previous Q				Prior Yr Q
	July 31, 2022				April 30, 2022				July 31, 2021
Total Net Assets (a)	$	159,587,104			$	158,296,298			$	177,745,059
NAV Per Share of Common Stock (a)	$	7.37			$	7.31			$	8.21
Market Price Per Share	$	6.82			$	6.71			$	8.19
Premium / (Discount)		(7.46	)%			(8.21	)%			(0.24	)%
Outstanding Shares		21,651,223				21,651,223				21,638,334
Total Net Investment Income (b)	$	1,703,982			$	1,259,996			$	1,385,836
Total Net Realized/Unrealized Gain/(Loss) (b)	$	872,906			$	(11,583,353	)		$	2,280,072
Net Increase (Decrease) in Net Assets From Operations (b)	$	2,576,888			$	(10,323,357	)		$	3,665,908
Earnings per Common Share Outstanding
Total Net Investment Income (b)	$	0.08			$	0.06			$	0.06
Total Net Realized/Unrealized Gain/(Loss) (b)	$	0.04			$	(0.53	)		$	0.11
Net Increase (Decrease) in Net Assets From Operations (b)	$	0.12			$	(0.47	)		$	0.17
Undistributed/(Overdistributed) Net Investment Income (c)	$	173,856			$	(244,044	)		$	(248,585	)
Undistributed/(Overdistributed) Net Investment Income
Per Share (c)	$	0.01			$	(0.01	)		$	(0.01	)

Footnotes:

(a) NAVs are calculated as of the close of business on the last business day in the periods indicated above.

(b) For the quarter indicated.

(c) As of the date indicated above.

This financial data is unaudited.

The Fund files its semi-annual and annual reports with the Securities and Exchange Commission (“SEC”), as well as its complete schedule of portfolio holdings for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. These reports are available on the SEC’s website at www.sec.gov. To obtain information on Forms N-PORT or a semi-annual or annual report from the Fund, shareholders can call 1-888-777-0102.

Western Asset Municipal High Income Fund Inc., a diversified, closed-end management investment company, is managed by Legg Mason Partners Fund Advisor, LLC, a wholly-owned subsidiary of Franklin Resources, and is sub-advised by Western Asset Management Company, an affiliate of the investment manager.

For more information about the Fund, please call 1-888-777-0102 or consult the Fund’s web site at www.franklintempleton.com/investments/options/closed-end-funds. Hard copies of the Fund’s complete audited financial statements are available free of charge upon request.

Data and commentary provided in this press release are for informational purposes only. Franklin Resources and its affiliates do not engage in selling shares of the Fund.

Category: Financials

Source: Franklin Resources, Inc.

Source: Legg Mason Closed End Funds

View source version on businesswire.com: https://www.businesswire.com/news/home/20220913005670/en/

Media: Fund Investor Services 1-888-777-0102

KEYWORDS: New York United States North America

INDUSTRY KEYWORDS: Professional Services Finance

MEDIA:

Posted on September 13, 2022 8:19 am

AEye and Intetra Deploy Groundbreaking Lidar-based Automated Tolling Solution

AEye and Intetra Deploy Groundbreaking Lidar-based Automated Tolling Solution

Jointly Developed, the State-of-the-Art System Delivers Significant Cost and Reliability Benefits over Legacy In-ground and Above-ground Detection Systems

DUBLIN, Calif.–(BUSINESS WIRE)–
AEye, Inc. (NASDAQ: LIDR), a global leader in adaptive, high-performance lidar solutions, and Intetra, a premier provider of end-to-end solutions for Intelligent Transportation Systems (ITS) and Electronic Toll Collection Systems (ETC), today announced the development and deployment of their state-of-the-art lidar-based tolling solution. The automated tolling system, powered by AEye’s 4Sight™ Intelligent Sensing Platform, provides greater reliability at a lower cost over inductive loop systems and other above-ground detection modalities, including camera and radar. Intetra is deploying the new automated tolling system in Turkey and Kazakhstan, with the intention of expanding the relationship to include other ITS applications and geographies globally.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220913005535/en/

Intetra’s lidar-based tolling solution leverages AEye’s 4Sight™ Intelligent Sensing Platform to provide accurate, real-time detection and generate actionable and precise data to support automated tolling. (Graphic: Business Wire)

“This lidar-based tolling system is truly groundbreaking. It leverages AEye’s software-defined architecture to provide accurate, real-time detection, and generate actionable and precise data to support automated tolling,” said Intetra CTO Recep Bahar. “Not only that, it’s easy to install, operate, and maintain – a huge time and cost savings realized over previously installed inductive loop systems, which required cutting into pavement and re-routing traffic to make improvements.”

The companies will be showcasing the automated tolling system at AEye booth #1403 at the ITS World Congress, taking place in Los Angeles from September 18 to 22, 2022. For more information or to schedule a demo, go to: https://www.aeye.ai/demo/.

Fast, Accurate Perception

AEye and Intetra’s lidar-based tolling solution is designed to improve real-time data collection, ensuring better, more accurate information is used to drive decisions and avoid revenue leakage. It does this by leveraging 4Sight’s software-configurable architecture and edge intelligence to better locate, identify, and track objects over time. AEye has also created a library of performance modes to accommodate virtually any tolling system needs and optimize for them. These performance modes deliver accurate, high-resolution, long-range 3D point clouds at high frame rates, providing the precision and data needed to detect and classify vehicles within the given road boundaries.

The solution can provide data for up to eight lanes of traffic per sensor, collecting information such as vehicle speed, trajectory, type classification, tagging, dimensions, and time stamp, without false or missed detections due to adverse weather conditions. This is a significant improvement over current systems, which may miss vehicles that are traveling at high speed or making last-second lane changes.

Significant Cost Savings

The lidar-based tolling system also offers significant cost savings. Unlike inductive loop systems, which necessitate cutting into the pavement and re-routing traffic for installation and maintenance, the lidar-based system is mounted on gantries or traffic poles and is software-configurable. This makes the lidar-based system much faster, easier, and less costly to install, upgrade, and service, while an open SDK ensures flexible integration and low maintenance cost. Furthermore, the system is highly versatile regarding sensor height, pitch angle, number of lanes, and types of data extracted.

Due to the software-configurability of the system, Intetra is able to manage all traffic counting and classification using one sensor, resulting in additional savings. Customers achieve better accuracy with just one lidar at the top of a gantry. The outcome is an integrated tolling solution that achieves optimal performance for any tolling use case, and delivers a level of efficiency and safety not possible with cameras alone.

“We are incredibly proud of the solution we co-developed and are deploying globally with Intetra,” said Baris Sarac, Director of Business Development, Europe ITS & Smart Mobility at AEye. “AEye’s software-configurable lidar solution uniquely provides the ultimate flexibility and longevity for automated tolling applications, allowing for over-the-air system upgrades and optimized performance, all within a single architecture.”

Lidar is the only deterministic sensor that provides the specific data needed for ITS applications due to its ability to precisely determine vector and velocity to establish where an object is going. AEye goes a step further, providing a software-definable lidar that enables the customization of scanning capabilities for any ITS application. That translates into a single lidar sensor providing all traffic counting and classification data to controllers, and doing so with greater accuracy than existing inductive loop and above-ground detection systems, including camera and radar.

Built on AEye’s award-winning 4Sight platform, 4Sight M is the first and only lidar solution whose performance has been independently verified by a reputable third-party testing organization. VSI Labs, the leading active safety and automated vehicle technologies researcher, published a report confirming 4Sight M’s breakthrough range, resolution, and speed capabilities. To see what a software-configurable sensor can do, and to experience the 4Sight M performance in real-time, visit https://www.aeye.ai/demo/.

About AEye

AEye’s unique software-defined lidar solution enables advanced driver-assistance, vehicle autonomy, smart infrastructure, logistics, and off-highway applications that save lives and propel the future of transportation and mobility. AEye’s 4Sight™ Intelligent Sensing Platform, with its adaptive sensor-based operating system, focuses on what matters most: delivering faster, more accurate, and reliable information. AEye’s 4Sight™ products, built on this platform, are ideal for dynamic applications which require precise measurement imaging to ensure safety and performance. AEye has a global presence through its offices in Germany, Japan, Korea, and the United States.

About Intetra

Founded in 2005, Intetra is an innovative market leader within Intelligent Transport Systems (ITS) and Electronic Toll Collection Systems (ETC). Intetra manufactures hardware, as well as develops state-of-the-art in-house software solutions to optimize energy efficient and climate friendly systems which monitor and manage complex traffic and mobility challenges. Our clients are public as well as private operators. Products include Variable Message Signs (VMS), Variable Traffic Signs (VTS), Passenger Information Display Systems (PIDS), Road Safety Solutions, Traffic Signal Systems, Smart City Solutions, Monitoring & Management Systems, and many more. Intetra provides end-to-end solutions for RFID Electronic Toll Collection, starting from design, through technology development, production, consulting, installation, training, service, maintenance, and management.

Forward-Looking Statements

Certain statements included in this press release that are not historical facts are forward-looking statements within the meaning of the federal securities laws, including the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are sometimes accompanied by words such as “believe,” “continue,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “predict,” “plan,” “may,” “should,” “will,” “would,” “potential,” “seem,” “seek,” “outlook,” and similar expressions that predict or indicate future events or trends, or that are not statements of historical matters. Forward-looking statements are predictions, projections, and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Forward looking statements included in this press release include statements about the use of AEye’s products as part of a tolling solution, the benefits for the use of such products, as well as the use of lidar generally, among others. These statements are based on various assumptions, whether or not identified in this press release. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as and must not be relied on by an investor as a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. Actual events and circumstances are very difficult or impossible to predict and will differ from the assumptions. Many actual events and circumstances are beyond the control of AEye. Many factors could cause actual future events to differ from the forward-looking statements in this press release, including but not limited to: (i) the risks that the Company’s lidar-based tolling solution may not provide greater reliability at a lower-cost over inductive loop systems and other above-ground detection modalities, including camera and radar; (ii) the risks that Intetra may not be able to successfully deploy the new automated tolling system, nor be able to deploy such systems to other ITS applications or geographies; (iii) the risks that the Company’s lidar-based tolling solution may not improve real-time data collection sufficient to ensure more accurate information is used to drive decisions or avoid revenue leakage; (iv) the risks that the Company’s lidar-based tolling solution may not provide data without false or missed detections due to adverse weather conditions; (v) the risks that the Company’s lidar-based tolling solution may not provide a significant improvement over current systems; (vi) the risks that the Company’s lidar-based tolling solution may miss vehicles that are traveling at high speed or making last-second lane changes; (vii) the risks that the Company’s lidar-based tolling solution may not provide significant cost savings; (viii) the risks that the Company’s lidar-based tolling solution may not be faster, easier, and less costly to install, upgrade and service; (ix) the risks that the Company’s lidar-based tolling solution may not provide flexible integration and low maintenance cost; (x) the risks that the Company’s lidar-based tolling solution may not achieve optimal performance for any tolling use case or deliver a level of efficiency and safety not possible with radar and cameras alone; (xi) the risks that the Company’s lidar-based tolling solution may not be the only deterministic sensor that provides the specific data needed for ITS applications; (xii) the risks that the Company’s lidar-based tolling solution may not enable customization of scanning capabilities for any ITS application; (xiii) the risks that the Company’s lidar does not allow for more accurate, timely, and reliable vision as compared to camera or radar-only systems, or such camera or radar-only systems may become substantially equivalent in relevant performance factors; (xiv) the risks that the Company’s lidar is not able to adapt to any situation and requirement within any ITS application; (xv) the risks that the Company will be able to successfully launch products into the market; (xvi) the risks that lidar adoption occurs slower than anticipated or fails to occur at all; (xvii) the risks that laws and regulations are adopted impacting the use of lidar that the Company is unable to comply with, in whole or in part, changes in competitive and regulated industries in which the Company operates, variations in operating performance across competitors, and changes in laws and regulations affecting its business; (xviii) the risks that the Company is unable to adequately implement its business plans, forecasts, and other expectations, and identify and realize additional opportunities; and (xix) the risks of downturns and a changing regulatory landscape in the highly competitive and evolving industry in which the Company operates. These risks and uncertainties may be amplified by the COVID-19 pandemic, including the Delta and Omicron variants, as well as future variants and subvariants, which has caused significant economic uncertainty. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the Quarterly Report on Form 10-Q that AEye has most recently filed with the U.S. Securities and Exchange Commission, or the SEC, and other documents filed by us or that will be filed by us from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made.

Readers are cautioned not to put undue reliance on forward-looking statements; AEye assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. AEye gives no assurance that AEye will achieve any of its expectations.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220913005535/en/

Media:

Jennifer Deitsch

AEye, Inc.

[email protected]

925-400-4366

Andie Davis

Landis Communications Inc.

[email protected]

415-717-9133

Investors:

Clyde Montevirgen

AEye, Inc.

[email protected]

925-400-4366

Will Stack

Lambert & Co.

[email protected]

212-971-9718

KEYWORDS: California United States North America

INDUSTRY KEYWORDS: Public Transport Technology Trucking Construction & Property Rail Transport Urban Planning Other Technology Hardware

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Intetra’s lidar-based tolling solution leverages AEye’s 4Sight™ Intelligent Sensing Platform to provide accurate, real-time detection and generate actionable and precise data to support automated tolling. (Graphic: Business Wire)